E3 - 4. The Impact of Ecosystem on Strategy Flashcards
What are strategic networks?
Groups of interconnected members that work collectively to achieve advantage, using technology
What are strategic platforms?
The platforms that enable providers and consumers to transfer goods and services, where members of the ecosystem relate to one another
What is the aim of supply chain management?
To achieve synergies to benefit all parties along the chain, by acting as partners
What are 4 common strategic practises in SCM?
- Consolidating the supplier base
- Linking IT systems
- Participation in product development
- Embedded representation
What are the 3 main advantages on SCM?
- Reduced transaction costs
- Improved communication
- Economies of scale
What are the 2 weaknesses of SCM?
- Only as strong as weakest link
- Involves power relationships
What is the focus of relationship marketing?
Long term customer retention and contact
What are the 4 main drivers of the importance of relationship marketing?
- Existing customers are more profitable than new
- Existing customers are advocates
- Lost customers go for a long time
- Complaints indicate problems
What are the 6 markets within Payne’s markets model?
Customer
Referral
Internal
Supplier
Influence
Recruitment
What are the 4 approaches to CSR?
- Philanthropic - give away
- Ethical - do the right thing
- Legal - minimum
- Economic - cost v benefit
What are the 3 elements of embedded sustainability?
- Strategy and oversight
- Execution and alignment
- Performance and reporting
What are the 3 elements of Triple Bottom Line reporting?
- Profit
- People
- Planet
What are the 3 technology aspects of CSR?
- Fair communication (open, but legal)
- Fair expectations
- Fair collaboration (security)
